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Currency Exchange

Authored by Kelly Kelley

Social Studies

7th Grade

Used 10+ times

Currency Exchange
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16 questions

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1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Media Image

You are on a trip to Germany. You swap your dollars for Euros. Why exchange currency while you are there?

To buy or sell goods in Germany; they won't take dollars.

Because dollars are worth the same as other currency

Because Euros are a great souvenir.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

According to the table, what is the Euro equivalent of 1 USD?

1.32 Euros

0.53 Euros

.76 Euros

1.59 Euros

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an exchange rate?

The rate at which goods are exchanged between two countries

The price of one nation's currency in terms of another's

How many US dollars you can exchange for RMB at Travelex

The price of goods in terms of a foreign currency

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does international trade require?

The president of every country to inspect the goods & services

permits to specialize in goods and services

an agreement to voluntary trade around the world

a fair way to swap currency known as exchange rate

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

19 out of 28 countries use the Euro. Why?

Because they are members of the European Union and it makes it easier to trade with one another.

Because the World Health Organization said they have to due to coronavirus

Because they said the Euro looked better than their original form of money/currency

Because they like to trade with America and we only accept Euros

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

________________ occurs when different countries choose to engage in the exchange of goods with one another.

Crimes

Voluntary Trade

Specialization

Tariffs

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

____________________ is something that is assigned value and can be used to purchase goods and services in a market.

Tariff

Currency

Quota

Embargo

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